Macy's CEO Pay Cut

Macy's CEO Terry Lundgren took a $2.5 million cut in his cash payout in 2007, in a year when the company's profit and sales both declined. He did get a bump in salary and almost $700,000 in additional stock incentives for a total payout of $14.4 million. That compares with a pay package of $16.3 million in 2006.